Author/Editor: Gabriel Soderberg, Marianne Bechara, Wouter Bossu, Natasha X Che, Sonja Davidovic, John Kiff, Inutu Lukonga, Tommaso Mancini Griffoli, Tao Sun, Akihiro Yoshinaga.

Release Date:February, 2022

Central banks are increasingly pondering whether to issue their own digital currencies to the general public, so-called retail central bank digital currency (CBDC). The majority of IMF member more...

Author/Editor: Yiping Huang, Longmei Zhang, Zhenhua Li, Han Qiu, Tao Sun, Xue Wang.

Release Date:September, 2020

Promoting credit services to small and medium-size enterprises (SMEs) has been a perennial challenge for policy makers globally due to high information costs. Recent fintech developments may be able more...

Author/Editor: Min Liao, Tao Sun, Jinfan Zhang.

Release Date:August, 2016

China’s financial system has become very large, diversified, and interconnected. This changing financial landscape could potentially produce systemic risks, arising primarily from growing financial more...

Author/Editor: Tao Sun.

Release Date:September, 2015

This paper analyzes the transmission of global liquidity to the ASEAN-5 countries (ASEAN-5), including the impact on financial landscapes and risks to financial stability. It finds that global more...

Author/Editor: Yinqiu Lu, Tao Sun.

Release Date:December, 2013

China’s rapid credit expansion in 2009–10 brought local government financing platforms (LGFPs) into the spotlight. This paper discusses their function, reasons behind their recent expansion, and more...

Release Date:August, 2013

China has reached a stage where further financial sector reforms appear essential. As the reform process progresses and macrofinancial linkages deepen, the preservation of financial stability will more...

Author/Editor: Tom Gole, Tao Sun.

Release Date:May, 2013

This paper investigates the potential relationships between financial structures and economic outcomes. The empirical results that withstand a battery of methods suggest that some financial more...

Author/Editor: Bin Wang, Tao Sun.

Release Date:March, 2013

This paper investigates macroprudential policies and their role in containing systemic risk in China. It shows that China faces systemic risk in both the time (procyclicality) and cross-sectional more...

Author/Editor: Tahsin Saadi Sedik, Tao Sun.

Release Date:November, 2012

This paper analyzes the experiences of emerging market economies (EMEs) that have liberalized capital flows over the past 15 years with respect to macroeconomic performance and risks to financial more...

Author/Editor: L. Effie Psalida, Tao Sun.

Release Date:October, 2011

The resumption of strong capital flows into emerging markets in mid-2009 brought back the debate over whether pull or push factors are the main determinants. This paper, using panel specifications more...